balance Sheet) for Thornton Company for the years ending December 31, 1998 and 1999.

1998 1999

Notes Payable $250,000 $220,000

Inventories $430,000 $390,000

Long-term Investment $70,000 $80,000

Sales $2,500,000 $2,900,000

Corporate Bond $580,000 $650,000

Annual Depreciation $100,000 $110,000

Excess Paid in Capital $100,000 $130,000

Taxes $70,000 $90,000

Cash ?? ??

Accumulated Depreciation $200,000 $310,000

Accounts Payable $540,000 $500,000

Costs of Good Sold $1,800,000 $2,000,000

Interest Expenses $80,000 $90,000

Retained Earnings $180,000 $210,000

Common Stock ($1 par) $100,000 $150,000

Gross Plant & Equipment $1,100,000 $1,410,000

Selling & Administrative Expense $400,000 $500,000

Accounts Receivable $180,000 $230,000

Marketable Securities $20,000 $20,000

Accrued Expenses $70,000 $50,000

R&D Expense $98,000 $165,000

1. What is firms Net Income in 1999?

2. What is the balance of Cash account in 1998 and 1999?

3. What is the total amount of firms current assets and current liabilities in 1998 and 1999?

4. What is the total equity in 1998 and 1999?